You are here

Economics

Economics Logo

Bill Schorr | trickle down economics / media.cagle.com

Bill Schorr | trickle down economics / media.cagle.com

Section(s): 

Robert Reich: America's Immoral Economy

Banner%20Corporate%20Accountability.jpg

  • The social contract has become entirely one-sided.
  • The US Economy Continues Its Collapse.

Robert Reich, RobertReich.org / Alternet

Coffee%20%26%20Paper%20Graphic.jpgJournalism with real independence and integrity is a rare thing. All reader supported Evergreene Digest relies - exclusively!- on reader donations. Click on the donation button above to make a contribution and support our work. 

tyranny.jpg September 6, 2015 | An economy depends fundamentally on public morality; some shared standards about what sorts of activities are impermissible because they so fundamentally violate trust that they threaten to undermine the social fabric.

It is ironic that at a time the Republican presidential candidates and state legislators are furiously focusing on private morality – what people do in their bedrooms, contraception, abortion, gay marriage – we are experiencing a far more significant crisis in public morality.

Robert Reich has served in three national administrations, most recently as secretary of labor under President Bill Clinton. He also served on President Obama's transition advisory board. His latest book is "Aftershock: The Next Economy and America's Future."

Full story … 

Related:

The US Economy Continues Its Collapse, Paul Craig Roberts, Countercurrents.org

  • Clearly, this is not an economy that has a future.
  • 35 soul-crushing facts about American income inequality,

Special Report | Celebrating Labor Day, 2015: The Crisis of Stagnant Wages in the American Economy

Banner%20Corporate%20Accountability.jpg

  • Worker pay is rising at the slowest pace ever recorded. But it's worse than that because the new data include everyone who's paid -- including top CEOs and Wall Street moguls.
  • Part 1: Wages Have Been Stagnant For 40 Years But It’s Not The Fault Of American Workers
  • Part 2: Robert Reich | Worker Pay Is Rising at the Slowest Rate Ever Recorded 

Compiled by David Culver, Ed., Evergreene Digest



Part 1: Wages Have Been Stagnant For 40 Years But It’s Not The Fault Of American Workers

Economic output has been steadily growing but it's no longer trickling down to workers' pockets.

Bryce Covert, Think Progress

A Burger King employee protesting for higher wages in Georgia 

AP_542718394483-1024x653.jpg

Sep 2, 2015 | Americans keep working harder and producing more economic growth. But they’re not getting rewarded with any extra pay for it, according to a new report from the Economic Policy Institute (EPI).

After the end of World War II, the country experienced decades of steady economic growth that also translated into steady increases in pay for the workers who were fueling it. As the report’s authors write, “For decades following the end of World War II, inflation-adjusted hourly compensation (including employer-provided benefits as well as wages) for the vast majority of American workers rose in line with increases in economy-wide productivity.”

Bryce Covert is the Economic Policy Editor for ThinkProgress. She was previously editor of the Roosevelt Institute’s Next New Deal blog and a senior communications officer. She is also a contributor for The Nation and was previously a contributor for ForbesWoman. 

Full story … 

twitter-4-512.pngNow you can follow Evergreene Digest on Twitter.

 



Part 2: Robert Reich | Worker Pay Is Rising at the Slowest Rate Ever Recorded 

Most people's pay is stagnant or dropping when adjusted for the costs of living, including rents that are going through the stratosphere.

Robert Reich, Robert Reich's Facebook Page / Reader Supported News

01 August 15 | Worker pay is rising at the slowest pace ever recorded. But it's worse than that because the new data include everyone who's paid -- including top CEOs and Wall Street moguls. The fact is, most people's pay is stagnant or dropping when adjusted for the costs of living, including rents that are going through the stratosphere.

Conservative Republicans like this. They've long said that Americans are living beyond their means and that the best way to revive the economy is for pay to drop. That's why they don't want to raise the minimum wage, why they advocate so-called "right-to-work" laws that destroy unions, why they're in favor of outsourcing jobs abroad through "free trade" policies like the Trans Pacific Partnership, and why they're happy for companies to shift from hiring people full time to relying on independent contractors and part-time workers.

Full story … 

Section(s): 

Special Report | Empowered by Debt

  • “Don’t Owe. Won’t Pay.” Everything You’ve Been Told About Debt Is Wrong
  • With the nation’s household debt burden at $11.85 trillion, even the most modest challenges to its legitimacy have revolutionary implications.

Charles Eisenstein, Yes! Magazine

I%20Want%20You.jpgIf you like reading this article, consider joining the crew of all reader-supported Evergreene Digest by contributing the equivalent of a cafe latte a month--using the donation button above—so we can bring you more just like it.

don-t-owe-won-t-pay-charles-eisenstein-debt-20150820/eisensteinwebsketch.jpg/imageAug 20, 2015 | The legitimacy of a given social order rests on the legitimacy of its debts. Even in ancient times this was so. In traditional cultures, debt in a broad sense—gifts to be reciprocated, memories of help rendered, obligations not yet fulfilled—was a glue that held society together. Everybody at one time or another owed something to someone else. Repayment of debt was inseparable from the meeting of social obligations; it resonated with the principles of fairness and gratitude.

If one debt can be nullified, maybe all of them can.

The moral associations of making good on one’s debts are still with us today, informing the logic of austerity as well as the legal code. A good country, or a good person, is supposed to make every effort to repay debts. Accordingly, if a country like Jamaica or Greece, or a municipality like Baltimore or Detroit, has insufficient revenue to make its debt payments, it is morally compelled to privatize public assets, slash pensions and salaries, liquidate natural resources, and cut public services so it can use the savings to pay creditors. Such a prescription takes for granted the legitimacy of its debts.

Charles Eisenstein wrote this article for The Debt Issue, the Fall 2015 issue of Yes! 

issues/the-debt-issue/image

Magazine. Charles is the author of Sacred Economics and The More Beautiful World Our Hearts Know Is Possible.

Full story … 

Related:

Introducing The Debt Issue, Christa Hillstrom, editor, yesmagazine.org

Our Fall 2015 issue (of Yes! Magazine) shipped this week (Aug 20, 2015), and it's all about debt: bad debt, good debt, how to rethink debt. In our first big article from The Debt Issue, best-selling author Charles Eisenstein goes right to the foundation of the debt system and asks, "Is it legitimate?" I hope you find his article as fascinating and inspiring as we do. Also, watch for online-only debt content, like the essay below by a student-debt strike leader, and the story about former debt collectors who changed their tune. 

Full story … 

Section(s): 

Pages